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2 results for “depreciation”+ Section 256(2)clear

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Key Topics

Section 139(4)4Section 260A3Section 139(1)3

THE COMMISSIONER OF INCOME TAX vs. SRI N LEELA KUMAR

ITA/384/2007HC Karnataka25 Nov 2013

Bench: N.KUMAR,RATHNAKALA

Section 139(1)Section 139(4)Section 158Section 260A

depreciation under sub-section (2) of section 32 shall not be set off against the undisclosed income determined in the block assessment under this Chapter, but may be carried forward for being set off in the regular assessments. 7. This chapter was introduced for the assessment of undisclosed income determined as a result of carrying out search under Section

THE PRINCIPAL COMMISSIONER vs. M/S OBULAPURAM MINING

ITA/100091/2016HC Karnataka17 Mar 2023

Bench: K.SOMASHEKAR,UMESH M ADIGA

Section 131Section 143(3)Section 260ASection 37

depreciation of Rs.84,39,457/- in all a sum of Rs.8,63,61,817/- towards Helicopters. On 31.03.2013, the assessment order held that there was a report that the assessee was involved in political activity. The Helicopter was used for political purposes as per media report. The claim was considered by the Assessing Officer under Section